From 2005 to 2018, every two years, the Schering Stiftung awarded the Schering Stiftung Art Award in cooperation with KW Institute for Contemporary Art. The 10,000-euro award honored international artists considered to be the most important newcomers in the fine arts during the previous two years. The Schering Stiftung Art Award included a solo exhibition at KW Institute for Contemporary Art and a monograph of the artist’s work.

Since 2020, the Schering Stiftung has awarded its Award for Artistic Research every two years. The new conception of the former Art Award was carried out in collaboration with the Senate Department for Culture and Europe, which in 2020 had launched a funding program for artistic research that has received much attention across Europe. As a joint initiative combining public and private funding, the Award aims to honor pioneers in the field of artistic research who have developed unique forms of knowledge creation through aesthetic means. Besides honoring artistic achievements, the award also aims to awaken public interest in artistic research and to show, through using outstanding examples, in what ways art contributes to knowledge in society. The 15,000-euro award includes a solo exhibition at KW Institute for Contemporary Art as well as an accompanying catalogue.